Latest news with #GohSeowEng
New Straits Times
16-05-2025
- Business
- New Straits Times
Maxis' net profit up 5.1pct to RM371mil, revenue rises to RM2.61bil in Q1
KUALA LUMPUR: Telecommunications company Maxis Bhd reported a 5.1 per cent increase in net profit to RM371 million for the first quarter ended March 31 2025. This was mainly due to lower net finance costs compared to RM353 million in the same quarter last year, Maxis said today. Its revenue inched up 0.2 per cent to RM2.61 billion from RM2.6 billion previously, supported by higher device sales driven by increased volume. However, the company's service revenue dipped 0.9 per cent to RM2.17 billion, impacted by a revised commercial structure for the SafeDevice programme and lower regulated interconnect rates. The company also announced an interim dividend of four sen per share for the quarter. Maxis said it remains committed to boosting customer value by driving service innovation and maintaining a highly reliable network. "We are committed to optimising operational efficiencies to ensure sustainable long-term growth," it added. Maxis has identified five key focus areas for 2025. This includes bundling and cross-selling to strengthen its consumer base, and growing its enterprise business while remaining aligned with its core offerings. The company will also prioritise infrastructure and wholesale development, digitalisation and artificial intelligence (AI) adoption, as well as operational excellence. Maxis chief executive officer Goh Seow Eng said the company expects to see a rebound in service revenue with low single-digit growth, along with flat to modest growth in earnings before interest, taxes, depreciation and amortisation by the end of the year. This is backed by disciplined capital spending of under RM1 billion, strategically directed toward key areas that support long-term growth and improved customer value. "We are actively building greater resilience in a dynamic market by strengthening our core operations and driving digital transformation," Goh added.
The Star
16-05-2025
- Business
- The Star
Maxis posts higher net profit of RM371mil, declares 4c div/share
KUALA LUMPUR: Maxis Bhd is anticipating its service revenue to return to low single-digit growth as well as flat to low single-digit earnings before interest, tax, depreciation and amortisation (Ebitda) by the year-end. To achieve this, the telco said it will keep to a disciplined capital expenditure under RM1bil, "strategically invested in key areas for long-term growth and enhanced customer value". This was in line with the company's efforts to build greater resilience via strengthening core operaitons and driving digital transformation, said Maxis CEO Goh Seow Eng in a press statement. On Friday, the telco reported its first-quarter result for 2025, registering a net profit of RM371mil as compared to RM353mil in the year-ago quarter on lower depreciation and net finance costs. Revenue was marginally higher at RM2.61bil from RM2.6bil in 1QFY24, while earnings per share share rose to 4.7 sen from 4.5 sen in the comparative quarter. A first interim dividend of four sen per share was declared for the quarter, with entitlement date set on June 3, 2025, and payable on June 20, 2025. During the quarter, Maxis said service revenuue was 0.9% lower year-on-year (y-o-y) at RM2.17bil due mainly to changes in commercial arrangement related to the telco's device protection programme. The consumer mobile segment's service revenue was down 2.6% to RM1.52bil in accordance to the commercial arrangements, in addition to seasonal fluctuations and lower internconnect rates. However, the consumer mobile segment grew its subscriber base by 3.7% to 9.77 million. In the consumer home segment, Maxis's revenue expanded 4.1% to RM254mil while home subscribers grew 2.9% to 787,000, amid the adoption of fibre broadband and customised offerings through bundled and value-added services. According to Maxis, the recent launch of its solar installation prgoramme, Maxis Home Solar, also strengthened its converged home proposition as it expanded access to renewable energy to households in Peninsular Malaysia. For the enterprise segment, Maxis recorded a 2.8% increase in service revenue y-o-y to RM398mil on higher mobile subscriptions and deliveries of fixed and solution services. Maxis said it maintained an operating free cash flow of RM883mil, with a strong cash balance of RM1.23bil as at 1Q25, supported by effective working capital management.
Malay Mail
02-05-2025
- Business
- Malay Mail
Maxis launches major fibre network expansion in Penang, eyes 100,000 homes by 2027
BATU KAWAN, May 2 — Maxis, Malaysia's leading integrated telecommunications provider, today marked a significant milestone with the official launch of its large-scale fibre network expansion in Penang, aiming to connect over 100,000 homes across the state by 2027. The rollout will cover all districts in Penang, with a strong emphasis on high-demand urban areas such as Jelutong, George Town, Batu Maung, Bayan Lepas, and Bayan Baru, alongside key locations on Mainland Penang. Maxis chief executive officer Goh Seow Eng said the project contributes to the company's national fibre network, which currently spans approximately 23,000 kilometres. He added that the enhanced infrastructure will be scalable to speeds of up to 10 gigabits per second (Gbps). 'We have been working closely with the state government on this for a couple of years and we are excited to now move into the implementation phase. 'Construction is expected to begin in the third quarter of this year, pending necessary permits from local town councils,' he told reporters after the launch of Maxis Home Fibre in Penang held at Dewan MPKK Bandar Cassia here today. The event was officiated by Penang Chief Minister Chow Kon Yeow. Goh noted that Maxis anticipates the full fibre rollout across Penang will take between 18 and 36 months to complete, ensuring that homes, businesses, and institutions throughout the state benefit from robust, high-speed Internet access. He added that Maxis' fibre expansion in Penang is made possible by the Last Mile Connectivity Guidelines introduced by the Penang State Government — a first-of-its-kind initiative in Malaysia. 'This initiative not only supports national digital transformation goals but also positions Penang as a leader in high-speed Internet accessibility and smart infrastructure development,' Goh said. Meanwhile, in his speech, Chow said the expansion of Maxis' Fibre Network in the state underscores the importance of synergy and collaboration between the public and private sectors in driving inclusive and sustainable digital transformation. He said that in a world increasingly driven by technology and digital connectivity, the need for fast, stable, and widespread communication infrastructure is no longer a luxury but a basic necessity. Therefore, he said Maxis' investment in building fibre optic infrastructure is a prime example of how the private sector can directly contribute to the state's digital development. 'This initiative, indirectly, will strengthen the foundation for digital growth and accelerate progress towards a tech-savvy society. 'By providing fast, secure, and reliable Internet access, Maxis can help bridge the digital divide that still exists within our communities, thereby empowering the people to explore opportunities in the future economy — whether in education, remote work, digital entrepreneurship, or innovative development,' he said. — Bernama
New Straits Times
02-05-2025
- Business
- New Straits Times
Maxis aims to link over 100,000 Penang homes with fibre network
KUALA LUMPUR: Maxis has expanded its fibre network in Penang, aiming to connect over 100,000 homes by 2027. The rollout will cover all districts, focusing on high-demand urban areas like Jelutong, Georgetown, Batu Maung, Bayan Lepas, Bayan Baru and key locations in mainland Penang. The initiative underscores Maxis' long-term commitment to supporting the state's digital agenda towards achieving the Penang 2030 vision of becoming a family-focused, green and smart state. Penang chief minister Chow Kon Yeow said the initiative supports the state's digital agenda towards achieving the Penang 2030 vision to build a smart, green and inclusive state. "High-quality internet connectivity is a critical driver for education, talent development and economic growth, all of which will further solidify Penang's position as a regional hub for technology and innovation. "We will continue strengthening our state's digital infrastructure to close the digital divide and ensure every Penangite is equipped to prosper in the future economy," he said. Maxis chief executive officer Goh Seow Eng said the fibre expansion supports Penang's digital journey, unlocking new opportunities for the people. "Building our own fibre network gives us full visibility of our service quality, ensuring fast, reliable and secure connectivity our customers can count on," he said. Maxis' fibre expansion in Penang was also facilitated by the Last Mile Connectivity Guidelines recently introduced by the state government, a first-of-its-kind initiative in Malaysia. This progressive initiative streamlines pole-sharing guidelines and enables various telecommunications providers to deploy fibre networks more quickly and efficiently across the state. Maxis currently operates its fibre network spanning over 23,000km across the country, with the capacity to serve more than half a million homes. Its own-built fibre footprint is complemented by fibre access through other infrastructure providers, expanding the accessibility of its services nationwide.
